In 2019, Crescent Heights shelled out more than $27 million to acquire the former site of the Temple Emanuel Youth Center Building in Beverly Hills, which was marketed as an infill development site. Nearly five years later, the Miami-based developer has a much bigger vision for the property.
According to a new memo published by the city, Crescent Heights submitted an application to build a new mixed-use residential building on the now-vacant .62-acre property at 8844 Burton Way. But while the site was marketed as an opportunity to build up to 42 residential units, the Miami-based developer is opting for a high-rise. The proposed project is described as a 20-story mixed-use building featuring 199 residential units.
The project comes about at a time when Beverly Hills has found itself at odds with state regulators over its housing element, failing on multiple occasions to secure certification. That failure leaves the city subject to the Builder's Remedy, which allows property owners and developers to bypass certain zoning rules relating to height and density while a jurisdiction remains out of compliance. Eligible projects must set aside at least 20 percent of the proposed housing for low-income renters or reserve the entirety of the project for moderate-income households.
The city has already seen a flurry of proposals, including a 19-story building slated for Linden Avenue near Wilshire Boulevard, a 12-story building at 346 N. Maple Drive, and a 14-story building slated for Hamilton Drive. However, none of the recent high-rise and mid-rise proposals have come from an applicant with the track record of a company like Crescent Heights.
Crescent Heights previously developed the 40-story Ten Thousand apartment tower in Century City, which overlooks Beverly Hills to the east. The company's L.A. portfolio also includes planned high-rise developments in Koreatown, Downtown, and Hollywood.
Though taller than its immediate surroundings in Beverly Hills, similar high-rise projects are in the works a few blocks to the east in the City of Los Angeles, including a proposed 19-story tower at 333 San Vicente Boulevard and a 16-story building at 333 La Cienega.
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